Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-04-15

is for the whole debt or only FOR the excess
for this lUun, which was S360'0 in the first
place, was reduced to $4,000, the exact
amount of the excess, DcCcmb, D. 1852. II
then stood in the TORN of drafts OF Edward A.
Suwlcs. tnc OF 5000, ou 49,. V. Weeks due
January 8, one OF S5o0, on u. G.. Hall due
January II. one OF $1,000. On II H. Weeks due
February :, one OF 50 OO, o. B. G. Hall due
February II and ore of 3 0o0, ON II. u. Lewis
due January ;, 1883. These appcnr to have
renamed OF the iudputiCuI tCun for which ia
money was passed over to h N with the tIll
knowledge and assent of Albert SOwlCs and
Burton and Of the other twp directors now
d ceased This debt was not accord u 10 tho
evidence further reduced hut was wholly lost.
The demagts re ultiug to the bank iu Cousc-
quCncc of this loan a. q equal 10 the amount
I the sums due on these drafts with int, rest
from the times when they tSp ctiVpIy fell
due. This int, rest ( o a prl Il, 1887, amounts to
S6jj93; and the who amount of the loss or
damage resulting ON this loan is t3!,5i9 81.
This money was borrow d by Edward a.
Sowles to pay tor stock of the bank with, for
the purpose of securing harmony among the
Oh crs and stockholders, and It is said in vi
dcnce that the transaction was repo ted to the
Imptrollcr of he currency and received his
approval Whether his apr VA extended
beyond the o ganlzntion OF the tcard Of d.
reCtors who had la ely been constituted does
not appear II it did he could not. and prob
ably did not att mpt to vary any liability inn
posed 10y express ,tatutes. 1t is suggested
also that tine conduc6 of the receiver who
preceded the pialntiu has contributed to in
crease the loss from tine poor assets. such,
however, docs not appear To he the TACT, and
4 it did ii would not affect the liability of any
of the defendants on account of tbs unlawful
loan, unless some part OF The loss resulting
from the loan was due to II. When The
directors let this tum of $4,000 of the
money of the bank go into the hands
of Edward A. SOwlcs as money borrowed by
him of the bank, they placed 1t outside of
where the law author zed them to lace it,
and became liable then and there, for the ex
cess above the legal limit ut least, and charge
able for IL If, in consequence, it should
be lost What occurred afterward had
no effect upon the liability except
as it may have varied the amount of
the loss. The result is tn 1t the deicndant Al
bert SOwles and Bur on are chargeable for
the amount of this loss There is no occasion
for an account of it, for the amount distinctly
appears. The defendants Edward a. Sowles
aud Hall are Lot upon these considerations
chargeable for any of The losses in this suit I;
but they are so connected with these ma tiers
That they do not appear to be entitled to
costs
Let Il decree be entered that the defendants
Albert Sowles and Burton are chargeable for
the amount o. the loss on the loan of S56.000
70 Edward A. S0wles ascertaincd to be So
559.3 and that they pay that sum to the ora
tor, with costs to be taxed, within 20 days
from the entry of the decree, and that the
bill be dismissed as to Edward A. Sowles and
Hall, without costs. HOYT II. WHEELER.
CHESTER w. WRITER'S, for orator.
ALBERT p. CROSS,
for defendant Burton.
EDWARD A. SowLEs, for him elf.